WPP buys out Turkish agency August 13, 2012 Advertising giant WPP yesterday said yesterday it has bought out Turkish agency Manajans Thompson Reklam Isleri AS for an undisclosed sum. WPP has owned a minority stake in the firm since 1985. Istanbul-based Manajans employs around 70 people and saw revenue of 8m Turkish lira (£2.8m) last year. The agency’s clients include Nokia, Shell and Byer.
Britain’s business champions cheer on Olympic success August 12, 2012 Sir Richard Branson President, Virgin Group “The Games have gone fantastically well. They’ve provided us with some incredible performances from the likes of Michael Phelps and Usain Bolt, while from a British perspective it’s been wonderful to see our athletes having such a successful Games. Perhaps the most pleasing aspect has been how the vast [...]
WPP’s latest acquisition makes digital agency chief his fortune August 2, 2012 ADVERTISING giant WPP has bought a majority stake in British online marketing firm Fortune Cookie, the latest acquisition for Sir Martin Sorrell’s firm as it aims to expand its digital reach. The deal, estimated at up to £30m, will net Fortune Cookie’s founder and chief executive Justin Cooke a hefty sum as he becomes head [...]
DEALMAKER OF THE YEAR August 1, 2012 INVESTMENT bankers have had a difficult year, with London’s IPO market virtually closed, and M&A deals few and far between. Our fourth short-list for the third annual City A.M. awards, though, highlights some superb individual performances in such difficult markets. Jonathan Rowley, for example, was on at least three M&A deals in just one week [...]
Cameron to top bosses: back UK Plc July 26, 2012 BUSINESS leaders from some of the largest companies in the world have begun arriving in London for a showcase event to boost investment into the UK, timed to coincide with the Olympic Games. The UK Trade and Investment department yesterday launched its so-called British Business Embassy, attracting figures such as Google’s Eric Schmidt, WPP boss [...]
WPP buys yet another firm July 23, 2012 ADVERTISING giant WPP has bought out marketing technology group Acceleration, the latest in a string of acquisitions for Sir Martin Sorrell’s firm, it announced yesterday. WPP has purchased a majority stake in Acceleration, with divisions in Guernsey and South Africa, for an undisclosed sum. The firm had revenues of $16.8m (£10.8m) last year and assets [...]
Multinationals seek advice on relocation after UK tax change July 22, 2012 MORE than a dozen multinational corporations are in discussions with tax advisers about re-locating to London to reap the benefits of changes to the UK’s tax framework, it was confirmed yesterday. A number of multinationals have asked accountancy firms to look into plans to transfer their tax status to the UK after reforms to the [...]
Rising Sun July 12, 2012 JAPANESE advertising agency Dentsu has, after a string of attempts, finally cracked the global market with a £3.16bn bid for Aegis. Shares in Britain’s second biggest ad agency jumped 45 per cent to 234p after Dentsu unveiled its 240p per share offer, a 48 per cent premium to Wednesday’s closing price. The deal –the second [...]
Bollore profits handsomely in Aegis takeover July 12, 2012 DESPITE his failed attempts to merge Aegis with ad agency Havas, French businessman Vincent Bolloré will no doubt be pleased with the £3.2bn sale to Dentsu announced yesterday. The Japanese company said it will buy most of Bolloré’s 26.4 per cent stake in Aegis, which the investor has been building up since 2005. WPP boss [...]
Miners and banks pin back FTSE July 12, 2012 The FTSE 100 was dragged down by weak commodity stocks and banks in early trading as investors cut their exposure to riskier assets on uncertainty over whether the US Federal Reserve will launch more stimulus measures. Minutes from last month’s Fed meeting showed the world’s biggest economy would have to worsen further before the central [...]